Hines, Oaktree Buy Fullerton Raytheon Campus

FULLERTON, CA—Hines has joined a subsidiary of a fund managed by Oaktree Capital Management LP to purchase the Raytheon Campus here on 25 acres for an undisclosed amount.

The two-building, 405,130-square-foot suburban office complex is located at 1801 Hughes Drive in the North Orange County market. The three-story buildings are fully leased to Raytheon, a tech and defense contractor.

The campus adds to the company’s total purchases of about 650,000 sq. ft. with Oaktree. "This transaction is a great example of our ability to get comfortable with a complex structure and meet a very quick closing timeline. We look forward to expanding our Orange County portfolio in 2013," said Mark Jacobs, managing director for Oaktree.